August 21, 2012

The Money Smart Family System by Steve & Annette Economides

The Money Smart Family System by Steve & Annette Economides is a family guide to help you get your family’s finances better handled, and also teaches you how to raise financially smart and responsible children.

Book Description
Is it possible to raise financially responsible kids of any age in a society filled with consumerism and entitlement?
 New York Times best-selling authors Steve and Annette Economides raised their five kids while spending 77 percent less than the USDA predicted. And the money they did spend was also used to train their children to become financially independent. The MoneySmart Family System will show you how to teach your children to manage money and have a good attitude while they’re learning to earn, budget, and spend wisely.
 Learn how to:
*Get the kids out the door for school with less stress. *End the battle over clothing—forever *Teach your children to be grateful and generous. *Inspire your kids to help with chores as a member of a winning team. *Prepare your kids for their first paying job. *Help your kids pay for their own auto insurance, and even pay cash for their own cars. *Employ strategies for debt-free college educations. *Truly help your adult children when they want to move back home. *Be prepared to deal with your adult children when they ask for bailouts.
 With clear steps for children of every age, The MoneySmart Family System proves that it’s never too early, too late, or too hard to start learning financial responsibility.” – The Money Smart Family System

 My Thoughts
The Money Smart Family System is a smart resource for managing money for the entire family. With the economy being as unstable as it is, saving money and not wasting it on things that aren’t necessary is essential. With so many young kids feeling entitled to the newest video game console, games, shoes, cell phones, and newest gadgets, can parents really make these changes? Yes, I think they can. This book could definitely help with that battle, but it will only work if the parents actually enforce and go through with these ideals.

Overall, I think this is a good book to help with raising money smart kids, and parents will also benefit from reading it to help their finances, too. I don’t think that too many “new” ways to save money were necessarily brought forward in this book. People aren’t going to find lost money in it, and it won’t magically make you earn more money to take care of your family. It will however, help you to save more money and spend a lot less.

* Thank you to the publisher of The Money Smart Family System, Thomas Nelson, for providing me with a copy of this book for review as part of their BookSneeze program. All opinions expressed are my own.

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